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cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best spokesman for conservatism. >> no, no. >> we should put a paul ryan -- we need younger leadership. >> paul ryan came out publicly in support of boehner. that's point number one. secondly, boehner jumped ryan over more senior people to put him as head of the budget committee. that's my second point. and boehner himself is being advised by ryan every step of the way. >> what do you say about this purge then? he's purging people that wants to balance the budget. >> you lost, ron. don't blame boehner. blame the republican party. blame conservatives. jim demint sa
cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best...
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selling ahead of the fiscal cliff. still, shares are up 32% year to date. the stock now on track to be down for the ninth week in the last 11. on average, though, when apple has hit that death cross, shares have gained about 1.1% the following week. apple, bill, the reason that the nasdaq is the big underperformer this week. if apple had been added to the dow instead of united health earlier this year, we would have seen a 700-point decline for this pullback in apple. >> we would have been much higher in the dow than we are now. thanks, bertha. what's to do with apple? is it a buy? do you avoid it? let's talk numbers on this today. what to do with this dreaded death cross? >> bill, a lot of clients of phoenix partners are calling in and saying, you know, what do i do now? is this the time to buy apple? my answer is simply, no, no, no. this is not the time to buy. lefts look at a longer term chart. what i want to point to is the nice, healthy, steady increase in price from 2009. all of the sudden, you know, greed takes
selling ahead of the fiscal cliff. still, shares are up 32% year to date. the stock now on track to be down for the ninth week in the last 11. on average, though, when apple has hit that death cross, shares have gained about 1.1% the following week. apple, bill, the reason that the nasdaq is the big underperformer this week. if apple had been added to the dow instead of united health earlier this year, we would have seen a 700-point decline for this pullback in apple. >> we would have...
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don't go over the fiscal cliff but pass a simple tax bill. what would it entail? expend the tax cuts to those making under $250,000. increase taxes on dividends and capital gains to 23.6%. number three, know estate tax, payroll tax cut, unemployment benefits extension. basically strip everything out. no delay in sequestration. does this look like it would satisfy wall street? i don't think so. remember two essential points. it's got to be done before the end of the year and be substantive. this is pretty stripped down but this is what a lot of people are talking about that this might be all that you're able to get through. people were hoping for a bigger deal, if not a grand bargain, at least address some of the other issues. >>> let me move on. the dow's up a little bit because of high-priced stocks like ibm are up. but we're having a great day again for financials. it's been a great week overall, but this is just today. jpmorgan chase and morgan stanley and citi announcing job cuts. bank of america, i'm sorry, announcing the cuts. let me tell you what's happenin
don't go over the fiscal cliff but pass a simple tax bill. what would it entail? expend the tax cuts to those making under $250,000. increase taxes on dividends and capital gains to 23.6%. number three, know estate tax, payroll tax cut, unemployment benefits extension. basically strip everything out. no delay in sequestration. does this look like it would satisfy wall street? i don't think so. remember two essential points. it's got to be done before the end of the year and be substantive. this...
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a taxes would be raised if there's no deal to avert the fiscal cliff. yesterday as you said, the president was in northern virginia meeting with a middle class family who would suffer if there was no deal. last week the president went to suburban philadelphia, to a small business again to make the point of his side in these fiscal cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and getting outside of washington, d.c. congressional republicans not so happy that the president is doing this. >> we understand that. paul steinhauser live in washington, thank you. >>> let's talk more about the fiscal cliff. we have the washington correspondent for the new yorker and cnn contributor ryan lizza with us. john boehner and the president in a room, just the two of them. good idea? >> i think it is a good idea. >> if you look at the accounts of the negotiations of 2011 when you had boehner, mcconnell, nancy pelosi all in one ba bainer and the president w
a taxes would be raised if there's no deal to avert the fiscal cliff. yesterday as you said, the president was in northern virginia meeting with a middle class family who would suffer if there was no deal. last week the president went to suburban philadelphia, to a small business again to make the point of his side in these fiscal cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and...
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i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our existing mac lines in the united states. >> but apple stock has been singing the blues for a few months. plummeted 25% off the all-high and a beating this week. 6.5% lower yesterday. apple up more than a percent today. kurndly around $544 a share. is now a good time to get in. you're all asking me. i'm asking katie stockton in connecticut. katie, is apple stock down off its high a phenomenally successful stock to hold for so many investors and showing the chart again. you look at technical trading patterns in the stock. do they tell you it's time to buy, sell or hol
i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our...
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. >> despite the fact he says i'm willing to let us go over the fiscal cliff. just quickly, this is dovetailing what you said before. if the republicans have to take it on the chin with their base for talking about taxing the rich, could they be now discussing in broad terms how to at least say the democrats, you're going to take the hit for medicare, then? >> the deeper structural issue is this. this is not the first fiscal cliff. we have a fiscal cliff every year with renewing the amt, with fixing the medicare payment rate, the so-called doc fix. we make policy in a crazy way in this country. what i think republicans are trying to do is say let's look at structural solutions that can lower the cost of these programs over the long term rather than doing a patch at the last minute every darn year. that's the way we make policy and it is absolutely crazy. >> amen. >> don't go out tonight. we could have further details breaking as we speak. thanks to both of you. >>> coming up next, on "outfront" it's been exactly three months, three months, since terrorists atta
. >> despite the fact he says i'm willing to let us go over the fiscal cliff. just quickly, this is dovetailing what you said before. if the republicans have to take it on the chin with their base for talking about taxing the rich, could they be now discussing in broad terms how to at least say the democrats, you're going to take the hit for medicare, then? >> the deeper structural issue is this. this is not the first fiscal cliff. we have a fiscal cliff every year with renewing the...
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try to prevent us from going over the fiscal cliff. >> those three guys are here live. and the man who shut down the government under bill clinton. what newt gingrich thinks it will take to avoid that happening again. >>> plus one of my personal heroes, the fastest man in the history of planet earth. jamaican sprinter usain bolt revealing a talent you may not know he has. ♪ let's get together and feel all right ♪ >> this is "piers morgan tonight." >>> good evening. our big story tonight, you are so hot, america. i mean that literally. the temperature was a balmy 60 degrees this afternoon in new york just outside cnn's studios. the average high temperature in december is normally 43. a warm front has flooded the lower 48 states. quite extraordinary but is it evidence of man-made global warming? that's tonight's battleground america. joining me now, bill nye the science guy and mark morano, the publisher of climate depo.com. welcome to you both. let me start with you, mark, if i may. you are implacably opposed to the concept of man-made climate change. why? >> we foll
try to prevent us from going over the fiscal cliff. >> those three guys are here live. and the man who shut down the government under bill clinton. what newt gingrich thinks it will take to avoid that happening again. >>> plus one of my personal heroes, the fastest man in the history of planet earth. jamaican sprinter usain bolt revealing a talent you may not know he has. ♪ let's get together and feel all right ♪ >> this is "piers morgan tonight." >>>...
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. >>> now it's up to two men to try to keep america from going over the fiscal cliff. 25 days and counting from the massive tax hikes and spending cuts. congress breaking in a week for the holiday. so john boehner trying to simplify things. he's asking top democrats and republica republicans to step aside so he can negotiate with the president one-on-one. it seems to be a request that everyone was able to live with. brianna keilar is live for us at the white house. if this is the case that everybody has been cleared out of the room, does that surprise you? it seems to make sense to me. >> reporter: it's not surprising at all. this is what observers of this process thought would happen all along. ultimately this was a process that would come down to president obama and house speaker john boehner brokering a deal. very much the way you saw they attempted to do during the debt ceiling debacle last year. it simplifies the problem of less cooks in the kitchen. then they will have to sell it. president obama would have to bring in democrats. john boehner would have to bring in his republicans an
. >>> now it's up to two men to try to keep america from going over the fiscal cliff. 25 days and counting from the massive tax hikes and spending cuts. congress breaking in a week for the holiday. so john boehner trying to simplify things. he's asking top democrats and republica republicans to step aside so he can negotiate with the president one-on-one. it seems to be a request that everyone was able to live with. brianna keilar is live for us at the white house. if this is the case...
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it's going to be driving the conversation on the fiscal cliff. we only have 25 days until the tax hikes and spending cuts start to take effect. here is the thing. this number came in much better than expected, don. so the bad part about this is that it may not motivate all those politicians on capitol hill as much as it may have, if it came in much weak er. this may not light the fire, so to speak. that could be the downside to the upside surprise to the number. don? >> alison, stick around. we'll get back to you as well. >>> from wall street now to washington where the white house is keep iing a close eye on today's numbers. brianna keilar joins us now live. good morning, brianna. >> reporter: good morning to you, don. we're still awaiting reaction from the white house and also from congssional republicans. they've long said at the white house, take a look at the trend of these nuchls over the month. so this number, paired with the last couple of months on its face, they will say the trajectory looks good, obviously more needs to be done. maybe
it's going to be driving the conversation on the fiscal cliff. we only have 25 days until the tax hikes and spending cuts start to take effect. here is the thing. this number came in much better than expected, don. so the bad part about this is that it may not motivate all those politicians on capitol hill as much as it may have, if it came in much weak er. this may not light the fire, so to speak. that could be the downside to the upside surprise to the number. don? >> alison, stick...
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Dec 10, 2012
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but there is this, if no deal is struck, and the fiscal cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room. that, wolf, is going to lead a lot of voters, democrat and republican, unhappy. >> tom foreman. dramatic way of explaining what's going on. love that virtual studio he's got over there. thank you. >>> new clues potentially uncovered in a deadly decades old mystery haunting a reform school. you'll find out what researchers think they have found. that's next. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ [ male announcer ] with a select terrain dial that adjusts the jeep grand cherokee's performance for specific weather and road conditions... ♪ ...even heavy snowstorms... won't keep you from getting to work. our apologies. ♪ >>> researchers may have unkfred shocking new evidence of a mass grave at a now closed florid
but there is this, if no deal is struck, and the fiscal cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room. that, wolf, is going to lead a lot of voters, democrat and republican, unhappy. >> tom foreman. dramatic way of explaining what's going on. love that virtual studio he's got over there. thank you. >>> new clues potentially uncovered in a deadly decades old mystery haunting a reform...
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their parties cannot come to an agreement on the fiscal cliff. president obama and house speaker john boehner met privately sunday in a surprise meeting, but they're not commenting much in public on whether there's been much progress. joining me now is political science professor and political chief correspondent for politics 365, jason johnson, and republican strategist, ron bon john. some say the fact that we're not hearing much of washington is a good sign, and in this case, silence is golden. you guys agree? >> yeah, i definitely do. look, one of the things that we've got to realize here is that the more that this fight takes place in public, the less is being done behind closed doors, because everyone feels that they have to justify the public rhetoric. so i think that we have two silences going on. there's barack obama and john boehner working things out and the republicans realizing that they've got to find a way to negotiate. so silence is golden for christmas season. >> do you agree, ron bonjean? >> yes, i completely agree. i think that
their parties cannot come to an agreement on the fiscal cliff. president obama and house speaker john boehner met privately sunday in a surprise meeting, but they're not commenting much in public on whether there's been much progress. joining me now is political science professor and political chief correspondent for politics 365, jason johnson, and republican strategist, ron bon john. some say the fact that we're not hearing much of washington is a good sign, and in this case, silence is...
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everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american business. >> i will start with senator alexander. tell me about energy policy and where it fits in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't spend much money on energy. energy research is about $6 billion a year. i would like to see it doubled. this report is a blueprint for independence and i think it is the right blueprint. we are not in a position to be
everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american...
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as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i feel that i give part of it to my charitable deductions. host: would you still make donations to charity if you could not write it off on your taxes? caller: yes, i would. host: thank you for your call. joe? caller: i would be willing to give up earned income credit and i liked what the last caller said about modifying the amount for charitable deductions. i think that sometimes the very rich use that to give to charities that actually benefit themselves. i also have a contingency, which would be to reform the bankruptcy act and remove those benefits for companies that were put in
as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i...
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host: so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiations, what are the options for congress right now? on december, what is it, 6 today? guest: to be honest, these are kind of an after thought at this point because often as i said just all of these are extended for a year or two at a time. they talk about trying to make the list shorter but if they have to, if it's like december 29 and they need to pass something, all they have to do is pass everything for a year and it won't cost so much. but get to this after they figure out the bigger question. host: but they can do it in one bill? they can say tax extenders and list the different -- guest: exactly. it will go in the big fiscal compromise and you won't a lot about it unless someone says, wait, they passed a reduction deal and they probably will. tax ex tenders were the in the tarp, the financial bailout. so they usually get snuck into these big billless. host: right now what's the status of these so-called tax extenders? guest: so the finance committee, the senate finance co
host: so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiations, what are the options for congress right now? on december, what is it, 6 today? guest: to be honest, these are kind of an after thought at this point because often as i said just all of these are extended for a year or two at a time. they talk about trying to make the list shorter but if they have to, if it's like december 29 and they need to pass something, all they have to do is...
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if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time for a couple more calls in this segment of the "washington journal," we will continue the unemployment insurance discussion in the following segment. laura is in louisville, kentucky, on the independent line. caller: good morning. what bothers me is when people say they actually can not find work and they have been on unemployment for 20 months, whatever they can get, and i will tell you my husband lost his job five years ago. he was with a company for 23 years. immediately we went into survival mode. we thought about what we could do to reduce bills, simplify our lifestyle in case he could not find
if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time...
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the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is estimated to be as high as $128 trillion. even if they confiscate all of the income that excesses $1 million, we cannot pay for the entitlement commitments that the federal government has made. we have made promises to ourselves that we simply cannot keep. without some sensible entitlement reform, our credit rating will be downgraded again. we will become a country that none of us recognize. secondly, fiscal plans failed to achieve their government budget deficit or debt reduction goals. dr. hassett has examined fiscal plans in other countries. on average, unsuccessful plans proposed an inc
the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp....
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host: we have been focusing on different aspects of the fiscal cliff. we want to look at capital gains tax and the estate tax. what is the estate tax? guest: it goes back to history -- it was put in place to prevent the united states from developing an aristocracy. a tax on estates that are passed down to heirs. republicans called the death tax. they have characterized it as a bad thing. it has a lot of a populist opposition to it. george w. bush signed in a phase-out of the estate tax. the top rate stays at 55%. the exemption level started rising from $1 million and going up. it was repealed completely in 2010 for one year. then it sprang back to life as part of the extension of the bush tax cuts that president obama signed into law. you have a debate -- very few members dispute that it needs to be continued. the debate is over whether you continue it at the current level. there is an exemption level, $10 million for a couple. or at the white house would prefer a 45% rate. that is the debate right now. there's a split among democrats. the white house w
host: we have been focusing on different aspects of the fiscal cliff. we want to look at capital gains tax and the estate tax. what is the estate tax? guest: it goes back to history -- it was put in place to prevent the united states from developing an aristocracy. a tax on estates that are passed down to heirs. republicans called the death tax. they have characterized it as a bad thing. it has a lot of a populist opposition to it. george w. bush signed in a phase-out of the estate tax. the top...
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the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is estimated to be as high as $128 trillion. even if they confiscate all of the income that excesses $1 million, we cannot pay for the entitlement commitments that the federal government has made. we have made promises to ourselves that we simply cannot keep. without some sensible entitlement reform, our credit rating will be downgraded again. we will become a country that none of us recognize. secondly, fiscal plans failed to achieve their government budget deficit or debt reduction goals. dr. hassett has examined fiscal plans in other countries. on average, unsuccessful plans proposed an inc
the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp....
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he talks about the fiscal cliff and laying the groundwork for the 2013-2014 election. that is at 10:00 a.m. eastern on c-span. >> in president obama's weekly address, he talks about tax policy, the tax cuts put in place by the previous administration that will expire at the end of the year. then the republican address on the economy, jobs, and education policy. >> hello, everybody. over the last few weeks, there's been a lot of talk about deadlines we're facing on jobs and taxes and investments. but with so much noise and so many opinions flying around, it can be easy to lose sight of what this debate is really about. it's not about which political party comes out on top, or who wins or loses in washington. it's about making smart decisions that will have a real impact on your lives and the lives of americans all across the country. right now, middle-class tax cuts are set to expire at the end of the year. time is running out. and there are two things that can happen. first, if congress does nothing, every family in america will see their income taxes automatically go
he talks about the fiscal cliff and laying the groundwork for the 2013-2014 election. that is at 10:00 a.m. eastern on c-span. >> in president obama's weekly address, he talks about tax policy, the tax cuts put in place by the previous administration that will expire at the end of the year. then the republican address on the economy, jobs, and education policy. >> hello, everybody. over the last few weeks, there's been a lot of talk about deadlines we're facing on jobs and taxes and...
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host: you are talking about the payroll tax cut, extending that possibly as part of the fiscal cliff negotiations. caller: right. it will cost them in the long run. host: because the money is coming out of social security. politicians say that will not happen. they say social security will have its money. caller: they tell you all kinds of things. host: john in atlanta, democratic caller. caller: how are you? it seems like it is open phones. i think as far as the fiscal cliff is concerned, the democrats and republicans need to come together and they need to do that rather quickly, because that's the way i feel about it. host: do you think it decides it should just agree to pass the tax cuts -- extend the tax cuts for middle-class americans and then wait until later to resume the debate over spending and tax cuts for wealthy americans? caller: they should start with that. and if they agree on that, then they can go on to the next thing. but this lagging and dragging along on both sides makes no sense. host: here is the washington post this morning. [video clip] >> i don't think the is
host: you are talking about the payroll tax cut, extending that possibly as part of the fiscal cliff negotiations. caller: right. it will cost them in the long run. host: because the money is coming out of social security. politicians say that will not happen. they say social security will have its money. caller: they tell you all kinds of things. host: john in atlanta, democratic caller. caller: how are you? it seems like it is open phones. i think as far as the fiscal cliff is concerned, the...
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hopefully we will resolve the fiscal cliff, get an agreement. but i again ask my friend, the walz bill will be compliant with the rules. it will not have a blue slip problem, obviously. and hopefully we could move that bill. again, for the purposes of giving confidence to the 98% of our taxpayers who are making less than the sums put forward in the bill, $200,000, $250,000. i understand and anticipate the gentleman's response, that we are all concerned with growing the economy, creating jobs. we don't want to dampen that dam and we understand the gentleman's concern about small businesses, particularly those 3% of small businesses who make more than this and report it on a personal income basis. but i would hope that we could give serious consideration to trying to act sooner than the end of the year and as soon as possible, frankly, on the mid -- as we call it the middle class tax cut, the $250,000 and under and i yield to my friend to see whether or not perhaps the actions that have been taken this week have any bearing on his thoughts on whet
hopefully we will resolve the fiscal cliff, get an agreement. but i again ask my friend, the walz bill will be compliant with the rules. it will not have a blue slip problem, obviously. and hopefully we could move that bill. again, for the purposes of giving confidence to the 98% of our taxpayers who are making less than the sums put forward in the bill, $200,000, $250,000. i understand and anticipate the gentleman's response, that we are all concerned with growing the economy, creating jobs....
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Dec 11, 2012
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host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across-the board, automatic, what does that mean? guest: agencies have these accounts, and there are about 1200 of them, and the managers have not been permitted by the obama-care administration to map out exactly how and 8.2% cut, which is about the equivalent of a 12% cut because the fiscal year is about one-quarter old by the time they kick in, so it is more abrupt than people think. these program project activity accounts, each would have to be cut by 8.2%, and only last week did the obama administration give permission to the pentagon and other agencies to start publicly discussing and calculating exactly how many people, programs and services might h
host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across-the board, automatic, what does that mean? guest: agencies have...
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Dec 11, 2012
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host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across- the board, automatic, what does that mean? guest: agencies have these accounts, and there are about 1200 of them, and the managers have not been permitted by the obama-care administration to map out exactly how and 8.2% cut, which is about the equivalent of a 12% cut because the fiscal year is about one- quarter old by the time they kick in, so it is more abrupt than people think. these program project activity accounts, each would have to be cut by 8.2%, and only last week did the obama administration give permission to the pentagon and other agencies to start publicly discussing and calculating exactly how many people, programs and services might
host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the end of the month, and we are talking about $500 billion in domestic spending across the board, right, charles clark? guest: $500 billion over 10 years. $38 billion would be in 2013. host: when people say across- the board, automatic, what does that mean? guest: agencies have...
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Dec 7, 2012
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when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think if -- we need to reduce -- increase the tax rate. >> if you go over in the tax rates go over, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two after it. we set ourselves on a path to do something with in 30, 60, or 90 days. people do not believe we will do it unless we do something. that is our reese. >> -- r were reese. >> as part of that second stage, does the top rate have to end at 39.6? are there ways democrats can accept something in between bush and clinton if it was coupled with a reduction in the ability of people to take certain deductions or credits? >> i do not want to second-guess what we may decide. to 39%. we should go that is not what we should be debating. i do not think it is instead of -- in addition to. having that debate now suggest that that is all we have to do. most people who know over a decade we need to do more about it if we are serious about de
when you hear about the concern about the fiscal cliff, it is not the tax rates. i do not buy that. i do not think if -- we need to reduce -- increase the tax rate. >> if you go over in the tax rates go over, all of that goes away. >> we should not do it. we should resolve this. it depends on whether we then do something about it in the next month or two after it. we set ourselves on a path to do something with in 30, 60, or 90 days. people do not believe we will do it unless we do...
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Dec 9, 2012
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a lot of americans to not know a lot about the fiscal cliff. the confidence and a market reaction is very different than the spending cuts and tax increases. here is the fundamental point. i could be wrong, it happened once. why find out? it is irresponsible to govern the country this way. the sequester and across the board cut, it is bat policy. everybody knows it is bad policy. we are very close to doing it. i find the whole situation unsatisfying. host: our phone lines are open and you can also send us an e- mail. you work for a number of members of the democratic party. you work for the president. a question that comes up often is why there is a partisan divide. what has changed over the last 20 or 30 years? guest: we only have an hour so we cannot go through all of that. there are a lot of things. there are some extraordinary changes. politics as a con tact sport is a substantial change from when i worked on the hill. they did not agree on anything, but they enjoy each other's company. i have seen with my own eyes republicans and democrats
a lot of americans to not know a lot about the fiscal cliff. the confidence and a market reaction is very different than the spending cuts and tax increases. here is the fundamental point. i could be wrong, it happened once. why find out? it is irresponsible to govern the country this way. the sequester and across the board cut, it is bat policy. everybody knows it is bad policy. we are very close to doing it. i find the whole situation unsatisfying. host: our phone lines are open and you can...
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Dec 6, 2012
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increases and spending cuts known as the fiscal cliff take effect. bloomberg government hosted a discussion this morning with the top democrat on the house budget committee, chris van hollen as well as republican senator bob corker and senator mark warner. at 9:00 eastern, president obama and house spear jaub boehner and spoke about the fiscal cliff today. republicans might be willing to agree to higher tax rates on the wealthy in january. house speaker calling on the obama administration to respond to the republicans' deficit proposal. president obama is at 9:00 eastern followed by speaker boehner. >> this weekend on c-span 3's american history tv, follow harry truman's eldest grandson to japan. >> everybody has their own view what happened and i don't want to argue survival to anyone in japan about the history. we're past that. and my whole purpose for being here is to listen to the living and to do what i can. >> sunday at 9:00 p.m. eastern on c-span 3. >> the supreme court will look at what was passed in 2008 by a majority of 6-3 i believe and go
increases and spending cuts known as the fiscal cliff take effect. bloomberg government hosted a discussion this morning with the top democrat on the house budget committee, chris van hollen as well as republican senator bob corker and senator mark warner. at 9:00 eastern, president obama and house spear jaub boehner and spoke about the fiscal cliff today. republicans might be willing to agree to higher tax rates on the wealthy in january. house speaker calling on the obama administration to...
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Dec 11, 2012
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we passed a bill just a few months ago that prevents are the fiscal cliff by saying nobody's taxes will be increased. all of those votes we were criticized for. they called us right-wing naughts. we explained to the people of the country what we want to do to number one get our economy going on and get our economy going again. we were re-elected with a mandate, not only to be in charge of the house, but to be a line of defense against a radical administration. i think we know what our task is. if you look at r.s.c. strength, and i don't think it's ever been stronger in terms of numbers and resolve. that will be our challenge because we will be tested. because you have so many members that are coming back that have been through this fight, that have been afact for the things we fought for in the last congress, but also the candidates that got elected, over 30 candidates, all but four, paul teller tells me, all four have expressed an interest in joining r.s.c. so you got a lot of people that ran in a tough environment and got elected talking about these conservative principles that we bel
we passed a bill just a few months ago that prevents are the fiscal cliff by saying nobody's taxes will be increased. all of those votes we were criticized for. they called us right-wing naughts. we explained to the people of the country what we want to do to number one get our economy going on and get our economy going again. we were re-elected with a mandate, not only to be in charge of the house, but to be a line of defense against a radical administration. i think we know what our task is....
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Dec 12, 2012
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agreement to avoid the fiscal cliff. but there is a consensus that we do this. so why are the republicans holding this hostage? once again, let us vote no on the previous question. let's bring this middle class tax cut up now. it is the solution. the speaker pro tempore: the gentleman's time has expired. the gentleman from texas. mr. session: i reserve my time. the speaker pro tempore: the gentlelady from new york. ms. slaughter: i have no further requests for time, mr. speaker. i wonder if my colleague is prepared to close. mr. sessions: i thank the gentlewoman for asking. i have no further speakers and would allow her that opportunity and then i will close. ms. slaughter: thank you very much. mr. speaker, we should be doing one thing today and that's passing the continuation of tax cuts for the middle class. the american people couldn't be more united in this support for tax cut and there is no reason for delay. the senate has already passed the bill and we can take up now, it's here at the desk. members across the ais
agreement to avoid the fiscal cliff. but there is a consensus that we do this. so why are the republicans holding this hostage? once again, let us vote no on the previous question. let's bring this middle class tax cut up now. it is the solution. the speaker pro tempore: the gentleman's time has expired. the gentleman from texas. mr. session: i reserve my time. the speaker pro tempore: the gentlelady from new york. ms. slaughter: i have no further requests for time, mr. speaker. i wonder if my...
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Dec 5, 2012
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i must have been a policy areas of the fiscal cliff talks. today the alternative minimum tax. hope i said that a. >> guest: something that was passed in the 1960s to animate a small group of high income individuals that were not paying any taxes. it did not have an inflation adjustment, so now the group has grown enormously and we assume in a budgeting sense the way we budget that this revenue will come in. it's not going to comment because if we allow the text if you can look at tens of millions of america. so we fixed it. i would hope in the next year we could have a permanent fix to get it out of the budgetary budget. same thing with what is called sgr, sustainable growth with medicare and medicaid. we patched these things over. let's figure out a way to get it out of the budgeting process so numbers can be something they can project forward realistically. >> host: is this a big deal? >> guest: it is. if we were to not get it then it would be a big deal. we raise taxes on millions of americans overnight. this is one of those things they don't take about because we never let
i must have been a policy areas of the fiscal cliff talks. today the alternative minimum tax. hope i said that a. >> guest: something that was passed in the 1960s to animate a small group of high income individuals that were not paying any taxes. it did not have an inflation adjustment, so now the group has grown enormously and we assume in a budgeting sense the way we budget that this revenue will come in. it's not going to comment because if we allow the text if you can look at tens of...
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Dec 6, 2012
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that's a different movie. >> the fiscal cliff. yesterday abc wrote republican doomsday snow. doomsday scenario was that you vote for the senate bill extended bush tax cuts 4908% of the people. say that's it, no more. "the new york times" today, it's a fallback position. specters well i don't want to -- apocalyptics have because i am confident there's enough people, a majority of people in this town to extend what we're doing here, with playing chicken with is the most important country in the world. we are on the verge of doing some significant things. to this enormous an extraordinary country. i don't think anyone wants to be part of the republic. that being said, before we talk about fiscal cliff, we'll get because the last fiscal cliff. we had another fiscal cliff types of new with the debt limit to create a center that led to this ridiculous idea that i voted against that let's put a bunch of bad things to happen at one time because that will force washington to do something. surprise, it didn't work. here we are again. so we have to issues. number one is an immediate ter
that's a different movie. >> the fiscal cliff. yesterday abc wrote republican doomsday snow. doomsday scenario was that you vote for the senate bill extended bush tax cuts 4908% of the people. say that's it, no more. "the new york times" today, it's a fallback position. specters well i don't want to -- apocalyptics have because i am confident there's enough people, a majority of people in this town to extend what we're doing here, with playing chicken with is the most important...
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Dec 13, 2012
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as david pointed out, the fiscal cliff is more than the massive tax increases and the spending cuts. it's also about a number of other things including an extended unemployment benefits and the dock fix and so -- doc fix and so forth. there's a number of things that really need to be addressed, but as i think, this discussion is not about the fiscal cliff per se because if congress and president come together quickly and pass a bill very easy that puts off of the fiscal cliff, either in large period of time or indefinitely. it really is about making a down payment as both rudy and david have said on closing deficits in the future, but i would say it's also really about the president's campaign, not just in the past election, but the first -- his first election to hike taxes on the successful. that's really what this boils down to. i think we absolutely have to see some real leadership, though, on the more longer term budget unsustainable issues. what we don't need is campaigning. what we don't need is negotiating in the political theater. when we see that stop, then, perhaps, we'll k
as david pointed out, the fiscal cliff is more than the massive tax increases and the spending cuts. it's also about a number of other things including an extended unemployment benefits and the dock fix and so -- doc fix and so forth. there's a number of things that really need to be addressed, but as i think, this discussion is not about the fiscal cliff per se because if congress and president come together quickly and pass a bill very easy that puts off of the fiscal cliff, either in large...
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a second reason that the tax extenders are different from other issues related to the fiscal cliff is that we have a tax extenders bill that's already been voted on in committee. by contrast, none of us know how the disagreements about the bush tax cuts or sequestration will be resolved. those negotiations are yet to conclude, but the tax extenders bill has already been negotiated in the finance committee. the committee agreed to permit provisions costing billions of dollars. it modified other provisions to make them work better or to scale back on them. the finance committee approved this bill by a vote of 19-5. some senators believe tax extenders should only be approved as part of a plan to do comprehensive tax reform. i would agree that each tax extender and each tax expenditure should be examined again during comprehensive tax reform. each should be made permanent or fazed out based on that review, but realistically, the congress will not make those decisions before the end of this year. tax reform will take the better part of a year to accomplish or perhaps even longer. we will n
a second reason that the tax extenders are different from other issues related to the fiscal cliff is that we have a tax extenders bill that's already been voted on in committee. by contrast, none of us know how the disagreements about the bush tax cuts or sequestration will be resolved. those negotiations are yet to conclude, but the tax extenders bill has already been negotiated in the finance committee. the committee agreed to permit provisions costing billions of dollars. it modified other...
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Dec 11, 2012
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but first during this talk about the fiscal cliff and about the tax cuts that sunset at the end of the year, all we've been hearing since the election is about what are we going to do about taxes? that's a very significant thing as a result of the last election because i think it's a foregone conclusion there's going to be more revenue raised. but if we raise the amount of revenue that the president wants raised and raise it from the 2% that he wants to raise it from -- the wealthy -- that's only going to run the government for eight days. so what do you do the other 357 days? or if you look at the deficit, it will only take care of 7% of the $1 trillion-plus deficit that we have every year. what about the other 93%? so the point being that we can talk about taxes and taxes and taxes, but it's not going to solve the fiscal problems facing our nation. we don't have a taxing problem. we have a spending problem. and so we should have been spending the last three weeks talking about how we're going to take care of the other 93% of the problem. the president should have declared victory thr
but first during this talk about the fiscal cliff and about the tax cuts that sunset at the end of the year, all we've been hearing since the election is about what are we going to do about taxes? that's a very significant thing as a result of the last election because i think it's a foregone conclusion there's going to be more revenue raised. but if we raise the amount of revenue that the president wants raised and raise it from the 2% that he wants to raise it from -- the wealthy -- that's...
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Dec 12, 2012
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cliff, the disastrous i ask unanimous consent sequences of our not acting, tax increases for every american taxpayer, massive cuts to defense at a time when the threats around the world are as varied and as great as we've seen in a long time. other essential programs of the federal government being affected by that. that's the last thing we need in this tepid economy with a lot of people out of work and hoping for some consensus to come together to provide a -- a long-term solution to our fiscal problem that continues to have a negative effect on our economy and more importantly, keeps people out of work. and so as that clock ticks, some are saying, well, partisanship is just too great in washington. the country's too divided. we're not going to be able to reach a consensus here in terms of how to address this problem. i disagree with that. over the last two years, and more, we have had a number of proposals brought forward on a bipartisan basis. it started with simpson-bowles, the former chief of staff to president clinton and al for a lon time, recognized asy two individuals that could ta
cliff, the disastrous i ask unanimous consent sequences of our not acting, tax increases for every american taxpayer, massive cuts to defense at a time when the threats around the world are as varied and as great as we've seen in a long time. other essential programs of the federal government being affected by that. that's the last thing we need in this tepid economy with a lot of people out of work and hoping for some consensus to come together to provide a -- a long-term solution to our...
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Dec 12, 2012
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those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the president promised repea repeatedly that he would not raise taxes on the middle class. as a matter of fact he said -- quote -- "if you're a family making less than $200,00200,000a year, my plan won't raise your taxes one opiniony. not your income taxes, not your payroll taxes, not your capital gains taxes, not any of your taxes." that's what the president said. but once he got into office, president obama arranged for his health care plan to be written behind closed doors. democrats in congress passed it, and they did it strictly along party lines. this law has included more than 20 different tax increases. these tax increases amount to more than a trillion dollars over the next ten years. of those, a dozen taxes specifically targeted middle-cl
those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the president promised repea repeatedly that he would not raise taxes on the middle class. as a matter of fact he said -- quote -- "if you're a family making...
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the debate rahs ling over on the fiscal cliff, if you raised all the dollars and taxes proposed, you only get $31 billion in a year, and they're requesting more than what we'd even get from that. so we need to be good stewards. yes, we want movement, yes, we want it to work right. before we make an investment again, shouldn't we review the business plan? secondly is an issue that mr. denham raised. this was put before the california voters. yes, it looks different today. as a california voter, i personally think you'd have to go back to the california because it's not what was proposed. it said there'd be private funding. there is no proposed private funding as of today. there's no money in, and i question whether it'll be in the future. so does the federal government -- is the federal government now on the hook for the rest of the plan which the voters were asked for and said would come? if we are the biggest funders of this, why would we not -- [inaudible] to what they said they would do? that is a question we all have to do. thirdly, when you read the business plan and you live in
the debate rahs ling over on the fiscal cliff, if you raised all the dollars and taxes proposed, you only get $31 billion in a year, and they're requesting more than what we'd even get from that. so we need to be good stewards. yes, we want movement, yes, we want it to work right. before we make an investment again, shouldn't we review the business plan? secondly is an issue that mr. denham raised. this was put before the california voters. yes, it looks different today. as a california voter,...
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Dec 8, 2012
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we arrest a number for the rest of the month under fiscal cliff. if you resell the dollar symbol the taxes has proposed, you'll make it 31 billion a year and they are requesting more than the kids for that. so we need to be stewards. yes, we want movement. guess he wants to work rate. before we make investment again, shouldn't be review the business? secondly, it's an issue that mr. denham raised. this is put before the california voters. guess it looks different today. as a california voter think you'd have go back because that's not what was proposed. it said there would be private funding. there is no proposed private funding as of today. there's no money in to question whether it will be in the future. so, does the federal government know that for the rest of the plan, which the voters asked for consent would come. if what the biggest funders of this, why would we not wait to what they said they would do? that is a question we all have to ask. thirdly, when you read the business plan and you live in my area, the number schist doughnut up. the m
we arrest a number for the rest of the month under fiscal cliff. if you resell the dollar symbol the taxes has proposed, you'll make it 31 billion a year and they are requesting more than the kids for that. so we need to be stewards. yes, we want movement. guess he wants to work rate. before we make investment again, shouldn't be review the business? secondly, it's an issue that mr. denham raised. this is put before the california voters. guess it looks different today. as a california voter...
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cliff. he said at one point that the president is calling for raising taxes $1.6 billion. that's true. but i would call to his attention the fact that the simpson-bowles commission suggested that 40% of the $4 trillion in deficit reduction come from revenue in taxes. what the president is suggesting is entirely consistent with that bipartisan group's call for more revenue in taxes as part of our deficit reduction. the president's made it clear, though, he wants to protect and insulate middle-income families from any income tax increases, and i agree with him. we should not raise the income taxes on those making less than $250,000 a year. i voted that way in july. we sent the bill to the house. it sits there. it languishes in the house because the speaker won't call it. he has his chance this week or the next to call that bill on the floor of the house of representatives to avoid any tax increase on middle-income families. that's an important thing for us to get done before we leave at the en
cliff. he said at one point that the president is calling for raising taxes $1.6 billion. that's true. but i would call to his attention the fact that the simpson-bowles commission suggested that 40% of the $4 trillion in deficit reduction come from revenue in taxes. what the president is suggesting is entirely consistent with that bipartisan group's call for more revenue in taxes as part of our deficit reduction. the president's made it clear, though, he wants to protect and insulate...
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taxes, fiscal cliff. why do you have to bring in social security and medicare and fix something that's not broke? >> stephanie: social security's case, we keep saying doesn't add a penny to the deficit. >> it is absurd. if you're going to curtail something or act like something is horribly busted, then i would say the military expenditures that go into effect because of the sequestration actually are something that's a crucial. they're going to drop off immediately and the spending on them is overtly far beyond its necessity. >> stephanie: it is more than the military asks for. congress is trying to give them more. >> to do what with? it is not like they're not ahead technologically from -- on every front. >> but we need to be able to blow up the world 150 times not 147. >> stephanie: otherwise we're french and gay. ron in illinois, you're on "the stephanie miller show." hi ron. >> caller: good morning, steph. >> stephanie: good morning. >> caller: i don't understand why john boehner think -- unless he's
taxes, fiscal cliff. why do you have to bring in social security and medicare and fix something that's not broke? >> stephanie: social security's case, we keep saying doesn't add a penny to the deficit. >> it is absurd. if you're going to curtail something or act like something is horribly busted, then i would say the military expenditures that go into effect because of the sequestration actually are something that's a crucial. they're going to drop off immediately and the spending...
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president obama is begin talking his fiscal cliff plans today. he will be on a conference call from the white house with a bi-partisan group of mayors and community leaders. the group will focus on how to prevent taxes from going up from middle class americans along with finding ways to grow the economy and reduce the deficit. turning to syria this morning, president obama is now stepping up pressure on bashar asaad with his official recognition of syria's opposition group. here with an interview with barbara walters. >> we have made a decision that the syrian opposition coalition is inclusive enough is reflective and representative enough of the syrian population that we consider them the legitimate representative of the syrian people in opposition to the outside regime. >> again, that's come from an exclusive interview yesterday with abc's barn with a walters. u.s. security officials are monitoring syria in case asad will use chemical weapons against his own people. other world leaders are expected to recognize the opposition. they say they wil
president obama is begin talking his fiscal cliff plans today. he will be on a conference call from the white house with a bi-partisan group of mayors and community leaders. the group will focus on how to prevent taxes from going up from middle class americans along with finding ways to grow the economy and reduce the deficit. turning to syria this morning, president obama is now stepping up pressure on bashar asaad with his official recognition of syria's opposition group. here with an...
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Dec 11, 2012
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the more the likelihood we get a fiscal cliff agreement at some point. there's still obviously the chance we go off the cliff. i think that's pretty unlikely to come to some arrangement on the tax increases. offset by entitlement reforms. the big question is what would democrats agree to and can the president bring them all along? he had that conversation with harry reid from air force i yesterday, i believe. which is significant in the sense that if we believe he's now trying to craft some sort of compromise deal, the democrats will accept, that we'll have some changes to social security and medicare that won't cause a full revolt in the democratic party. that's the big question. >> bill: first of all on the tax rate, do you think the president -- first will republicans accept any increase in the tack rate for the top 2%? and will the president accept anything less than 39.6%? >> i think on the first question, the answer is probably yes. i think john boehner has difficult task in selling that to his caucus and increasing the top rate. i think at the end
the more the likelihood we get a fiscal cliff agreement at some point. there's still obviously the chance we go off the cliff. i think that's pretty unlikely to come to some arrangement on the tax increases. offset by entitlement reforms. the big question is what would democrats agree to and can the president bring them all along? he had that conversation with harry reid from air force i yesterday, i believe. which is significant in the sense that if we believe he's now trying to craft some...
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Dec 13, 2012
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irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african dictators, all of the really nice people tht they had no idea where problem. by the way, nobody going to jail will be taking that up. we will have coming up next. tracy: all right, "lou dobbs tonight" at 7:00 p.m. and :00 p.m. eastern. when we come back, how to beat the street. covering your assets with tips with picking winners on wall street. stay with us .racy: earnings season kicks off tracy: where has the time gone? earnings season kicks off in less than a month from now. here with advice on how to pick stocks for earnings, we have the author of the options handbook. before we get intoall
irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african...
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Dec 11, 2012
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>> neil: switch gears on the budget impasse talk the fiscal cliff for the brink. many say republicans give away the store. >> if they do, they are with tax hikes but no reduction of spending then they give away the store. >> they have to enforce the promise. neil: that makes sense or make it happen when the spending cuts have been. >> to extend the bush tax cut by then they should do all spending cuts simultaneous with each other simpson bowles makes sense but if they don't happen it is an excuse. neil: it is peppered with good intention of leaders whose say stick to your end of the bargain. >> money has to be on the table. criminal defense lawyers they of front because they don't pay. [laughter] give me my retainer. you can do when. republicans could give on the rate. 37 ha in return when the $1 trillion of spending cuts have been. what did the obama arithmetic that $1 trillion we have already cut. >> 800 billion for the board that would be financed anyway, there has to be real cuts happening at the same time. neil: rudy guiliani. i am headed to washington to sav
>> neil: switch gears on the budget impasse talk the fiscal cliff for the brink. many say republicans give away the store. >> if they do, they are with tax hikes but no reduction of spending then they give away the store. >> they have to enforce the promise. neil: that makes sense or make it happen when the spending cuts have been. >> to extend the bush tax cut by then they should do all spending cuts simultaneous with each other simpson bowles makes sense but if they...